multifamily

JLL Capital Markets arranged the $220m loan, of which about $65.8m is comprised of preferred equity. 

The firm expects to see a rise in portfolio and property recap opportunities over the next six to 18 months as traditional lenders pull back. 

The residential property is in Cherry Hill, New Jersey. 

The borrower in the deal is American Lions, a joint venture between Fetner Properties and the Lions Group.

The New York-based lender has added exposure in Honolulu’s Ala Moana submarket with one of the largest deals signed so far in 2023.

Berkadia on tap as originator as California manager targets mixed income and other affordable housing asset types.

Atop its standard strategy, the firm is looking to potentially invest in the rescue capital space later this year. 

Market specialist Malcolm Davies at WAY Capital believes there is a need for more pragmatism and creativity around office conversion projects.

Freddie Mac has continually expanded its multifamily lending presence over the past decade and has its sights set on more broad and innovative measures to keep momentum rolling through present market volatility.

The firm is moving ahead despite volatility in the global financial markets.